Deficit of Budget of Moldova May Reach 14% of GDP
OREANDA-NEWS. October 02, 2009. This was stated by the Minister of Finance Veaceslav Negruta at the press conference "Results of the primary diagnosis of the national economic and financial situation. The position of the donor community ", noting that the cabinet will take necessary measures to prevent such a huge deficit and reduce it up to 6 billion 248 million leis.
The budget deficit will be covered through the internal resources and foreign assistance. According to the Minister of Economy Valeriu Lazar, such a large budget deficit has arisen because of the inadequate, adventuress fiscal policy of the former government.
The head of the Ministry of Economy noted that the costs of the budget were not covered by incomes. Budget revenues were charged in advance and the costs were excessively increased. As the result, the new Government has received devastated budget.
Contrary to the statements of the former authorities, over 8 months, the income part of the budget was fulfilled only by one half. Among the measures the Government intends to undertake to reduce the budget deficit are: reduction of the budget expenditure and delay in the increase of salaries of some state officials and militaries.
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